'''Bethlehem Steel Corporation''' was America's second-largest steel
producer and largest shipbuilder
Bethlehem Steel and a subsidiary company
, Bethlehem Shipbuilding Corporation
, were two of the most powerful symbols of American industrial manufacturing leadership. Their demise is often cited as one of the most prominent examples of the U.S. economy's shift away from industrial manufacturing, its failure to compete with labour economics|cheap foreign labor
, and management
's penchant for short-term profits.
After a decline in the American steel industry and other problems leading to the company's bankruptcy in 2001, the company was dissolved and the remaining assets sold to International Steel Group
in 2003. In 2005, ISG merged with Mittal Steel Company|Mittal Steel
, ending American ownership of the assets of Bethlehem Steel.